Revance Therapeutics' wrinkle-reducing injection met its goal of lasting for six months, according to phase three trial results the company released Tuesday. Competitors Allergan's Botox Cosmetic and Galderma's Dysport last up to four months, according to their websites.

Revance's RT002 uses the same active ingredient as its competitors, botulinum toxin Type A, but was created using the company's proprietary peptide technology. The product is 15 years in the making and is now one step closer to reaching consumers.

A long-term safety study is already underway and is expected to conclude in the second half of next year. Revance plans to bring the injection to market in 2020, assuming the drug receives approval from the Food and Drug Administration.

"We believe today's results not only validate the effectiveness and patient response but substantiate RT002 injectable's place as a distinctly new generation of long-acting neuromodulators," Revance co-founder and CEO Dan Browne said Tuesday on a call outlining the study's findings.

Allergan wasn't as impressed. In a statement, it called the results "underwhelming" and said it doesn't believe the data released Tuesday will support a claim that RT002 lasts longer.

The company's Botox injection was introduced for cosmetic use in 2002 and remains the market leader.

"Allergan continues to invest in neurotoxin research and development. The company's continued investment includes potential future indications for Botox and Botox Cosmetic as well as next-generation neurotoxins," the company said in an emailed statement.

Cantor Fitzgerald analyst Louise Chen said the data were "meaningfully better than expected by the Street" in a research note published Tuesday. Shares of Revance skyrocketed 33.7 percent Tuesday. They've now gained nearly 68 percent this year.

Allergan's stock, meanwhile, fell 1.5 percent and was trading at its lowest levels since December 2013. It has shed nearly 22 percent on the year.